Having considered the comments and recommendations of the Sub-Committee on Monitoring, Evaluation and Finance (UNEP/OzL.Pro/ExCom/40/7, paragraph 51), the Executive Committee decided:
- To take note of the report on project balances contained in UNEP/OzL.Pro/ExCom/40/24 and UNEP/OzL.Pro/ExCom/40/24/Corr.1;
- To note that, during 2003, the agencies had the following reduced balances for projects completed up to the end of May 2002: UNDP from US $4,774,693 to US $2,420,094, UNEP from US $377,865 to US $0, UNIDO from US $2,951,018 to US $1,214,338 and the World Bank from US $5,931,118 to US $1,026,054;
- Also to note that the Government of Canada had returned US $2,600 to the Treasurer in respect of refrigeration project preparation in Cuba (CUB/REF/25/PRP/09);
- To request that the data concerning the refrigeration project at Hitachi Consumer Products Co. Ltd. in Thailand (THA/REF/10/INV/20) be addressed in the annual reconciliation of accounts to be presented to the 41st Meeting of the Executive Committee;
- To note with appreciation the letters from the Administrator of UNDP and the Director‑General of UNIDO regarding non-reimbursed balances for projects completed two years previously;
- To request the Government of Jordan to resolve the issue concerning the audit bureau, and request the World Bank to financially complete the Fathai Abu Araj foam project in Jordan (JOR/FOA/23/INV/37) as approved and return the US $7,000 plus agency fees identified by the audit bureau for the training component of the project;
- To note with concern that disbursements reported to the 38th Meeting were inaccurate, and request UNDP, UNEP, and the World Bank to ensure that future reports on balances are accurate, comply with Executive Committee financial reporting decisions, and distinguish disbursements from obligated and un-obligated balances;
- Also to note the levels of funds being returned to the 40th Meeting totalling US $2,389,992, plus support costs of US $524,214, as follows by agency: US $1,408,378 from UNDP and agency support costs of US $181,335, including reimbursement of funds previously returned in error for two projects by UNDP; US $1,265,686 from UNEP and agency support costs of US $105,255; US $221,769 from UNIDO and agency support costs of US $28,828; and the return of US $505,841 to the World Bank, as well as the return by the World Bank of agency support costs of US $208,796, including the reimbursement of funds returned in error by the World Bank for two projects and reimbursement of financial intermediary fees for cancelled projects; and
- Further to note that the following implementing agencies had balances totalling US $930,834, excluding support costs, from projects completed over two years previously: UNDP (US $527,816 plus support costs); and the World Bank (US $403,018 plus support costs).